Reuters reports that the European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis for Monday morning, reflecting concern that the crisis could spread to Italy, the region’s third largest economy.
A spokesman for Von Rompuy claims that “It’s a coordination, not a crisis meeting.” and added that Italy would not be on the agenda. He declined to say what would be discussed.
On friday there was a sharp sell off of Italian assets with with yields reaching a critical 5.7%.
At Conunderground.com we wonder how much money Soros made shorting Italian governemnt paper.